Tuesday, February 19, 2008

Tea prices set to soar

See post below for strategies to enhance what (if any) caffeine you indulge in.From the Financial Times:

Tea prices are likely to jump to an all-time high this year, underpinned by production disruptions in Kenya, the United Nations’ Food and Agriculture Organisation will forecast on Tuesday.

In the latest sign of rising global food inflation, wholesale tea prices surged last year to an annual average of $1.95 a kilogram, a 6.5 per cent increase from the previous year and the highest annual level since 2002.

Average tea prices “are expected to reach even higher and possibly record levels” in 2008 following a 10 per cent reduction in shipments from Kenya, the FAO has forecast in a report to the Global Dubai Tea Forum.

Prices in Kenya, the world’s largest exporter of black tea, have already jumped further to about $2.50 a kilogram amid civil unrest since the disputed re-election of Mwai Kibaki, president, in December....MORE